Ongoing Market Uncertainty Fuels Used Truck Market Stagnation

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Apr 07, 2025, 10:02 ET

LINCOLN, Neb., April 7, 2025 /PRNewswire/ -- The newest Sandhills Global market reports covering used equipment, trucks, and trailers on Sandhills' U.S. platforms show inventory and values trending down for used heavy-duty trucks. Used truck inventory was particularly lower compared to year-ago levels.

"New truck sales have been stagnant, with pre-buy behavior moving from 2025 to 2026," says Truck Paper Manager Scott Lubischer. "OEMs recognize this, and they have been cutting back production. Given the uncertainty clouding the global economy, many buyers are stalling."

Inventory levels of U.S. used heavy-duty trucks on Sandhills platforms have been trending down for seven months. Inventory levels posted a modest month-over-month increase of 0.24% in March but were down 23.02% year over year. Used day cab inventory levels were up 2.18% M/M, more than other categories, while used sleeper trucks led in YOY inventory decreases with a 40.56% drop.

Inventory levels in this category continued trending sideways in March despite decreases of 0.24% M/M and 11.75% YOY. In terms of M/M changes, used flatbed trailers showed the largest category increase at 5.95% while used dry van trailers posted the largest category decrease at 2.59%. The used reefer trailer category drove YOY inventory decreases in this market with a 24.35% drop.

Inventory has been growing in this market, a trend that continued in March with 5.45% M/M and 13.35% YOY inventory level increases. Used dry cargo delivery box trucks exhibited the largest M/M category increase at 6.94% while used reefer box trucks had the largest YOY category increase at 56.6%.

Inventory levels in this market have been trending upward. This continued in March, with inventory increasing by 1.72% M/M and 5.62% YOY. The used high-hp tractor category (300 hp and greater) posted the highest inventory gains, up 2.37% M/M and 11.84% YOY.
Used tractor asking values showed a marginal 0.46% M/M decrease and a sharper 5.45% YOY drop in March. Used 175- to 299-hp tractors led other categories in YOY asking value decreases, down 5.38%. — Inventory levels in this market have been trending upward. This continued in March, with inventory increasing by 1.72% M/M and 5.62% YOY. The used high-hp tractor category (300 hp and greater) posted the highest inventory gains, up 2.37% M/M and 11.84% YOY. Used tractor asking values showed a marginal 0.46% M/M decrease and a sharper 5.45% YOY drop in March. Used 175- to 299-hp tractors led other categories in YOY asking value decreases, down 5.38%.

•Inventory levels of used combine harvesters on Sandhills platforms increased 0.68% M/M in March and are trending steady but were 5.74% lower than last year.
•Asking values dipped lower by 0.28% M/M and 1.72% YOY but are trending sideways.
•Auction values moved slightly lower M/M in March, by 0.07%, but were up 0.76% YOY and are trending up.
•The EVI spread fell for the third month in a row to 45%, which is still close to the peak values observed in 2015. — •Inventory levels of used combine harvesters on Sandhills platforms increased 0.68% M/M in March and are trending steady but were 5.74% lower than last year. •Asking values dipped lower by 0.28% M/M and 1.72% YOY but are trending sideways. •Auction values moved slightly lower M/M in March, by 0.07%, but were up 0.76% YOY and are trending up. •The EVI spread fell for the third month in a row to 45%, which is still close to the peak values observed in 2015.

•Used sprayer inventory levels decreased by 0.86% M/M in March and are trending down despite a 2.3% YOY increase.
•Asking values decreased by 1.05% M/M and 2.89% YOY but are trending sideways.
•Auction values in this market have risen for several consecutive months. In March, auction values were up 1.05% M/M but down 1.57% YOY.
•The used sprayer EVI spread dropped three points in March to 40%, lower than peak values from 2015. — •Used sprayer inventory levels decreased by 0.86% M/M in March and are trending down despite a 2.3% YOY increase. •Asking values decreased by 1.05% M/M and 2.89% YOY but are trending sideways. •Auction values in this market have risen for several consecutive months. In March, auction values were up 1.05% M/M but down 1.57% YOY. •The used sprayer EVI spread dropped three points in March to 40%, lower than peak values from 2015.

•Inventory levels in this market fell 1.95% M/M and 11.42% YOY in March and are trending downward.
•Asking values have been steady. Sandhills observed asking price decreases of 1.17% M/M and 1.81% YOY in March.
•By contrast, auction values are trending upward, with a 2.47% M/M decrease but a 7.76% YOY increase in March. — •Inventory levels in this market fell 1.95% M/M and 11.42% YOY in March and are trending downward. •Asking values have been steady. Sandhills observed asking price decreases of 1.17% M/M and 1.81% YOY in March. •By contrast, auction values are trending upward, with a 2.47% M/M decrease but a 7.76% YOY increase in March.

•Used compact and utility tractor inventory levels dropped by 4.57% M/M and 22.78% YOY in March and are trending down. The used sub-40-hp tractor category had the most sizable impact on this market, with inventory levels down 7.12% M/M and 26.04% YOY.
•Asking values have also been declining, continuing in March with decreases of 3.63% M/M and 6.27% YOY. The largest YOY change occurred in the used 40- to 99-hp tractor category, down 3.21%. — •Used compact and utility tractor inventory levels dropped by 4.57% M/M and 22.78% YOY in March and are trending down. The used sub-40-hp tractor category had the most sizable impact on this market, with inventory levels down 7.12% M/M and 26.04% YOY. •Asking values have also been declining, continuing in March with decreases of 3.63% M/M and 6.27% YOY. The largest YOY change occurred in the used 40- to 99-hp tractor category, down 3.21%.

Inventory levels of used crawler excavators, dozers, and wheel loaders on Sandhills platforms have been decreasing for several months. This continued in March with decreases of 0.28% M/M, although inventory levels in this market were 3.33% higher than in March 2024. Used wheel loaders led other categories in YOY inventory increases at 14.22%.

•Inventory levels in this market, which includes used skid steers, loader backhoes, and mini excavators, are currently trending down. Inventory levels were 1.28% lower M/M in March but 5.9% higher than year-ago levels, with used loader backhoes leading other categories in M/M decreases at 2.28% and used wheel skid steers leading in YOY increases at 9.98%.
•Used medium-duty construction equipment asking values increased by 1.21% M/M in March but decreased by 4.05% YOY and are trending sideways. — •Inventory levels in this market, which includes used skid steers, loader backhoes, and mini excavators, are currently trending down. Inventory levels were 1.28% lower M/M in March but 5.9% higher than year-ago levels, with used loader backhoes leading other categories in M/M decreases at 2.28% and used wheel skid steers leading in YOY increases at 9.98%. •Used medium-duty construction equipment asking values increased by 1.21% M/M in March but decreased by 4.05% YOY and are trending sideways.

Inventory levels of used lift equipment on Sandhills platforms rose 3.52% M/M and 17.87% YOY in March, continuing an upward trend. The largest inventory increases occurred in the used telehandler category, up 5.16% M/M, and the used cushion tire forklift category, up 36.33% YOY.

In the used machinery markets, heavy-duty and medium-duty construction equipment inventory continues trending down at a similar rate while values are trending up or sideways in most categories. Inventory levels are rising in the used tractor market (especially in the 300-plus-horsepower category), auction values are trending up, and asking values are trending down.

"Buyers are acting cautiously, paying close attention to interest rates, tariffs, and commodity prices," says TractorHouse Manager Ryan Dolezal. "Inventory levels are elevated, so many buyers are shopping for the lowest prices and only purchasing units when absolutely necessary. Dealers will need to stay attuned to the market and price accordingly to be successful as these market conditions will likely continue into spring."

The key metric in all of Sandhills' market reports is the Sandhills Equipment Value Index (EVI). Buyers and sellers can use the information in the Sandhills EVI to monitor equipment markets and maximize returns on acquisition, liquidation, and related business decisions. The Sandhills EVI data include equipment available in auction and retail markets and model-year equipment actively in use. EVI spread measures the percentage difference between asking and auction values.

Additional Market Report Takeaways
Sandhills market reports highlight the most significant changes in Sandhills' used heavy-duty truck, semitrailer, farm machinery, and construction equipment markets. Key points from the current reports are listed below. Full reports are available upon request.

U.S. Used Heavy-Duty Trucks

Inventory levels of U.S. used heavy-duty trucks on Sandhills platforms have been trending down for seven months. Inventory levels posted a modest month-over-month increase of 0.24% in March but were down 23.02% year over year. Used day cab inventory levels were up 2.18% M/M, more than other categories, while used sleeper trucks led in YOY inventory decreases with a 40.56% drop.
Asking prices have also been trending downward for seven months, rising just 0.06% M/M in March but decreasing 6.31% YOY. The day cab truck category led in YOY asking value decreases with a 7.35% decrease.
Auction values continued a downward trend as well, with decreases of 0.52% M/M and 6.6% YOY in March. Used sleeper truck auction values were down 1.27% M/M, more than other categories. Used day cab truck auction values decreased more than other categories YOY, down 8.86%.

U.S. Used Semitrailers

Inventory levels in this category continued trending sideways in March despite decreases of 0.24% M/M and 11.75% YOY. In terms of M/M changes, used flatbed trailers showed the largest category increase at 5.95% while used dry van trailers posted the largest category decrease at 2.59%. The used reefer trailer category drove YOY inventory decreases in this market with a 24.35% drop.
Asking values fell 0.95% M/M and 8.43% YOY in March and are trending down. Used reefer trailer asking values decreased more than other categories both M/M at 3.61% and YOY at 13.21%.
Auction values, however, are trending up, posting a 0.59% M/M increase and a 3.13% YOY decrease in March. Used reefer trailers led other categories in auction value decreases as well with 3.11% M/M and 12.95% YOY declines.

U.S. Used Medium-Duty Trucks

Inventory has been growing in this market, a trend that continued in March with 5.45% M/M and 13.35% YOY inventory level increases. Used dry cargo delivery box trucks exhibited the largest M/M category increase at 6.94% while used reefer box trucks had the largest YOY category increase at 56.6%.
Asking values decreased by 1.54% M/M and 3.22% YOY in March, continuing a downward trend. These changes were led by the used moving box truck category, with asking prices down 3.84% M/M, and the used dry cargo delivery box truck category, with asking prices 8.09% lower than year-ago levels.
Similarly, auction values decreased by 1.04% M/M and 2.5% YOY and are trending down. Used reefer box truck auction values decreased more than other categories M/M at 4.55% while used dry cargo delivery box trucks led other categories in YOY decreases, falling 9.77%.

U.S. Used Tractors 100 Horsepower and Greater

Inventory levels in this market have been trending upward. This continued in March, with inventory increasing by 1.72% M/M and 5.62% YOY. The used high-hp tractor category (300 hp and greater) posted the highest inventory gains, up 2.37% M/M and 11.84% YOY.
Used tractor asking values showed a marginal 0.46% M/M decrease and a sharper 5.45% YOY drop in March. Used 175- to 299-hp tractors led other categories in YOY asking value decreases, down 5.38%.
Auction values increased slightly M/M at 0.83% but were down 4.61% YOY. Still, auction values are trending up. Used high-hp tractors constituted the category with the highest M/M auction value increase, up 2.76%, while used 175- to 299-hp tractors decreased the most YOY at 5.08%.
The Sandhills EVI spread, which measures the percentage difference between asking and auction values, dropped one point in March to 37%, slightly lower than the peak values seen in 2015.

U.S. Used Combines

Inventory levels of used combine harvesters on Sandhills platforms increased 0.68% M/M in March and are trending steady but were 5.74% lower than last year.
Asking values dipped lower by 0.28% M/M and 1.72% YOY but are trending sideways.
Auction values moved slightly lower M/M in March, by 0.07%, but were up 0.76% YOY and are trending up.
The EVI spread fell for the third month in a row to 45%, which is still close to the peak values observed in 2015.

U.S. Used Sprayers

Used sprayer inventory levels decreased by 0.86% M/M in March and are trending down despite a 2.3% YOY increase.
Asking values decreased by 1.05% M/M and 2.89% YOY but are trending sideways.
Auction values in this market have risen for several consecutive months. In March, auction values were up 1.05% M/M but down 1.57% YOY.
The used sprayer EVI spread dropped three points in March to 40%, lower than peak values from 2015.

U.S. Used Planters

Inventory levels in this market fell 1.95% M/M and 11.42% YOY in March and are trending downward.
Asking values have been steady. Sandhills observed asking price decreases of 1.17% M/M and 1.81% YOY in March.
By contrast, auction values are trending upward, with a 2.47% M/M decrease but a 7.76% YOY increase in March.
The EVI spread for used planters on Sandhills platforms rose two points in March to 53%. Despite the increase, this figure is still lower than the peak values seen in 2015.

U.S. Used Compact and Utility Tractors

Used compact and utility tractor inventory levels dropped by 4.57% M/M and 22.78% YOY in March and are trending down. The used sub-40-hp tractor category had the most sizable impact on this market, with inventory levels down 7.12% M/M and 26.04% YOY.
Asking values have also been declining, continuing in March with decreases of 3.63% M/M and 6.27% YOY. The largest YOY change occurred in the used 40- to 99-hp tractor category, down 3.21%.
Auction values also fell, by 3.16% M/M and 5.21% YOY, and are trending down. The used less-than-40-hp tractor category posted both the largest M/M increase at 0.79% and the largest YOY decrease at 2.39%.

U.S. Used Heavy-Duty Construction Equipment

Inventory levels of used crawler excavators, dozers, and wheel loaders on Sandhills platforms have been decreasing for several months. This continued in March with decreases of 0.28% M/M, although inventory levels in this market were 3.33% higher than in March 2024. Used wheel loaders led other categories in YOY inventory increases at 14.22%.
Asking values decreased by 0.62% M/M and 3.85% YOY in March and are trending upward. The used crawler excavator category led in YOY asking value decreases at 5.11%. Used wheel loaders followed closely behind with a 5.09% YOY drop.
Auction values in this market are also trending upward despite decreases of 0.23% M/M and 2.88% YOY in March. Used crawler excavator auction values dipped 1.34% lower M/M, more than other categories, while used wheel loaders led in YOY auction value decreases with a 6% change.

U.S. Used Medium-Duty Construction Equipment

Inventory levels in this market, which includes used skid steers, loader backhoes, and mini excavators, are currently trending down. Inventory levels were 1.28% lower M/M in March but 5.9% higher than year-ago levels, with used loader backhoes leading other categories in M/M decreases at 2.28% and used wheel skid steers leading in YOY increases at 9.98%.
Used medium-duty construction equipment asking values increased by 1.21% M/M in March but decreased by 4.05% YOY and are trending sideways. Used wheel skid steers had the largest M/M category asking value decrease at 1.24%, while used track skid steers had the largest YOY asking value decrease at 6.66%.
Auction values in this market were up 1.54% M/M in March and are beginning to trend up despite a 3.39% YOY decrease. Used mini excavators led other categories in M/M auction value increases, up 2.28%, while used track skid steers led in YOY decreases, down 5.76%.

U.S. Used Lifts

Inventory levels of used lift equipment on Sandhills platforms rose 3.52% M/M and 17.87% YOY in March, continuing an upward trend. The largest inventory increases occurred in the used telehandler category, up 5.16% M/M, and the used cushion tire forklift category, up 36.33% YOY.
Asking values in this market are trending downward. Asking values decreased by 2.49% M/M and 9.74% YOY in March. The used telehandler category posted the largest M/M asking value decrease at 5.72%, and the used rough terrain scissor lift category showed the largest YOY asking value decrease at 14.2%.
Auction values decreased by 0.88% M/M and 6.19% YOY but are trending sideways. Sandhills observed the most significant auction value decreases in the used telehandler category, down 3.69% M/M, and the used cushion tire forklift category, down 18.06% YOY.

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About the Sandhills Equipment Value Index
The Sandhills Equipment Value Index (EVI) is a principal gauge of the estimated market values of used assets—both currently and over time—across the construction, agricultural, and commercial trucking industries represented by Sandhills Global marketplaces, including AuctionTime.com, TractorHouse.com, MachineryTrader.com, TruckPaper.com, and other industry-specific equipment platforms. Powered by Value Insight Portal (VIP), Sandhills' proprietary asset valuation tool, Sandhills EVI provides useful insights into the ever-changing supply-and-demand conditions for each industry.

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